SASKATOON, SK – July 12, 2018 - International Road Dynamics Inc., a Quarterhill Inc. company (TSX: QTRH) (NASDAQ: QTRH), today announced that Mr. Terry Bergan, President and CEO, has retired from the office of Chief Executive effective today. As part of a planned leadership succession process, IRD’s current Chief Operating Officer and Executive VP, Randy Hanson, will succeed Terry Bergan as President and Chief Executive Officer of the Company, effective July 12, 2018.
"IRD has grown to be a recognized world leader in the ITS industry ," said Terry Bergan, President & CEO. "Over the years, IRD Has persevered during substantial market challenges, while continuing to advance with its world-renowned technologies."
"The company is poised to move forward in the world of data management, and I believe it is the right time for me to retire," said Bergan. "While I will deeply miss the people that have made the company successful, I am looking forward to spending time with my family; I do so knowing that IRD’s path forward is full of opportunities and I'm confident that our employees will get us there with the leadership of Randy Hanson and our senior management team. I am also confident that Randy Hanson will ensure the consistency of IRD’s Customer Driven focus, providing continued value and quality.”
Randy Hanson is a P. Eng with a degree in Electrical Engineering from the University of Saskatchewan and has been with IRD in the position of Executive VP & COO since 2000. Previous to IRD he held numerous senior leadership positions within several technical engineering organizations and sits on various industry boards. In his role as COO, he directed corporate operations during its substantial change and growth. Randy’s oversight and leadership will ensure a smooth transition into this new role.
IRD is a highway traffic management technology company specializing in supplying products and systems to the global Intelligent Transportation Systems industry. IRD is a North American company based in Saskatoon, Saskatchewan, Canada with sales and service offices throughout the United States and overseas. Private corporations, transportation agencies and highway authorities around the world use IRD's products and advanced systems to manage and protect their highway infrastructures.
Quarterhill is focused on the disciplined acquisition, management and growth of companies in dedicated technology areas including, vertical market software and solutions, intelligent industrial systems, and innovation and licensing. Quarterhill’s emphasis is on seeking out acquisition opportunities at reasonable valuations that provide a foundation for recurring revenues, predictable cash flows and margins, profitable growth, intimate customer relationships and dedicated management teams. Quarterhill is listed on the TSX and NASDAQ under the symbol QTRH. For more information: www.quarterhill.com